V-Coins Review – Scam or Legit ICO?

Looking for a V-Coins Review? You’re in the right place. Today we are looking at V-Coins and we are going to share our full review. V-Coins are digital tokens that promise to give out free worldwide transactions and are based on the real value of stable, precious metals. If you’re wondering whether it’s a scam or a legit company keep reading as we will reveal everything. Also we are not an affiliates so you can expect and honest review and not just another sales pitch like other reviews do!

V-Coins Review

V-Coins are digital tokens that are backed by the intrinsic value of precious metals and hard currencies. The digital token promises to be solid, valuable, digital, and safe.

It is not strictly a cryptocurrency, nor is it strictly a fiat currency. It describes itself as a “hybrid crypto-currency.” The official website of V-Coins also makes some shady claims like the fact that its refined algorithm averts drastic price fluctuations.

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Workings of V-Coins

80% of your purchase price is invested in real assets that includes precious metals and hard currencies (CHF, USD, and EUR) when you buy V-Coins.

The coin claims to make use of a “refined algorithm” that averts drastic price fluctuations, thus making V-Coins one of the most stable and secure digital currencies worldwide.

In their website, they cite that the real value deposit builds safety and stability.

V-Coins ecosystem can be accessed via their website. The coins are not traded on conventional digital currency exchanges. They are not listed on cryptocurrency markets, nor do they seem to be accepted anywhere outside of their platform.

The coins do assert to have a real value that can be transferred into usable money:

If you need Euros or any other currency, you will have the equivalent amount, in the currency of your choice, transferred to your private bank account or your personal V-Coins VISA card within a few days. Withdrawals can be performed anytime and from anywhere.

That VISA card appears complicated to order. There is no easy online ordering form unlike other cryptocurrency payment platforms. You have to print an application form, sign it, and email it to the personal V-Coins email account. After that, the company will contact you in the future. It is not clear if anyone has actually been able to order a V-Coins VISA card.

Another strange thing about V-Coins is that there is no mining involved in the coin creation process. The only way to get coins is by purchasing them via a platform called Animax United LP. Animax United LP is an Edinburgh, Scotland-registered Company introduced in 2016, though it’s not really clear how they’re linked to V-Coins.

Features

Clearly, there is a lot going on with V-Coins. It is hard to sort out much information from the V-Coins.global page. However, here are some of the main features advertised on that sales page:

Backed By Real Value:

80% of the value of each coin is invested in precious metals or hard currencies (like the CHF, USD, and EUR). It is not clear how much of each coin is invested in each asset. In addition, later on down the page, the company states that the value basket also includes real estate properties, industrial metals, and other tradable investments in the economy.

No Price Fluctuations:

V-Coins make use of a “refined algorithm” that averts drastic price fluctuations. It is not clear how this mysterious algorithm works. However, since V-Coins can only be bought from a single, private exchange, it is likely that the exchange just lists them at a pre-set price.

Access Your Money At Any Time:

They do not seem to be spendable anywhere except for a single private exchange, and they do not seem to have any value on any cryptocurrency markets. So when you require accessing your value, you will need to transfer V-Coins into a different asset. The makers assert you can do that within a few days of submitting a withdrawal request to the company. They can transfer the value of your V-Coins into the currency of your liking. You can transfer the money into a private bank account or onto your personal V-Coins VISA card.

Free:

V-Coins make a big deal out of the truth that it is free, and that it never charges anything for transactions. It appears to be true. However, there is a hidden fee slipped into the platform. You will pay a 6% fee whenever you withdraw your money.

Transparency:

V-Coins tells users to feel free to visit the homepage of V-Coins if they ever need information about “all legally relevant documents and regulations” about the V-Coins platform. In fact, there is not much information about any aspect of the company available online.

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People behind V-Coins

V-Coins is led by a man named Joeknox Reed. He is described as an “entrepreneur, philanthropist.” No other biographical information is mentioned. Other chief members of the team include accountant, businessman, Keith Bigsby and IT and programming expert, Dr. Nikola Tasic.

In Dr. Tasic’s LinkedIn page he appears to be a macro-economic specialist from Serbia. However, no mention is made of his involvement with the V-Coins project.

The website never mentions where the management team is based, or where its office is located (if it has an office or headquarters). However, the Animax United LP exchange is registered to Edinburgh, Scotland.

Winding Up

V-Coins is a strange cryptocurrency that might seem legitimate at first glance. But it seems like there’s something fishy going on. There is almost no information about the currency available online. When you purchase the currency, the company buys assets in some form though it is not clear what they purchase or how much. There are some vague mentions that one can claim these assets at any time which gives the currency value. However, it is not clear if anyone has successfully withdrawn any money from V-Coins, or if a V-Coins Visa card really exists.

V-Coins are not recorded on any cryptocurrency exchange. May be the coins are not even based on blockchain technology. All that is known is that they’re just digital tokens with no fixed supply or limit.

In addition, there is no biographical information about any of the team members available online. The only team member found on LinkedIn has no public connection to the company. It is not clear if he even knows that his name is being used in V-Coins.

Considering these information, it will be better to wait for more information about V-Coins to come into view online before you give any money to this company.

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